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Turkish lira hits historic low against dollar as Istanbul mayor detained

World News

19-03-2025 | 04:24

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Turkish lira hits historic low against dollar as Istanbul mayor detained

The Turkish lira plunged to an all-time low against the dollar on Wednesday after police raided the home of Istanbul's powerful opposition mayor, Ekrem Imamoglu.

The currency was trading at 39 liras per dollar after the mayor, a key opponent of President Recep Tayyip Erdogan, was detained over a corruption probe, a move denounced by his opposition CHP party as a "coup."

AFP

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